Your business will have key personnel who you rely on. Maybe they are a brilliant sales person, a can-do manager or someone with specialist skills.
How easily would your business cope without them? Succession planning helps you to identify who these key personnel are. More importantly perhaps, it helps you work out what you need to do to protect your business.
As you might expect, the Royal Family have succession planning down to a fine art. When Prince Charles becomes king, the Duke of Cambridge will inherit the estate of the Duchy of Cornwall. In 2014, the Duke of Cambridge attended an agricultural course. When he takes on the role of Duchy of Cornwall, he will already have the skills he needs in place.
If a key member of your team left your business, you would need to adapt quickly. Think of succession planning as a practical insurance policy for your business.
We will help you to identify your key personnel and any possible successors. We will show you how to address any skills shortages that may be holding back your business. Our easy to follow appraisal systems are a great way to identify potential issues.
We will help you find ways to develop and retain key personnel. We will find practical ways to multi-skill your existing team. If you do lose a key member of staff, others will be ready to step in. On top of that, your existing staff will gain new skills and be more motivated.
We want your business to carry on growing, no matter what changes may be forced upon you. We can save you time, stress and money in the future by planning now for the changes that inevitably lie ahead.
Call Parallel HR now to talk to us about succession planning for your business.